Almost half of the world's population lives in 16 countries

Nearly half of the world's population lives in China, India, Japan, South
Korea, Australia, New Zealand, and the ten member
states of the Association of Southeast Asian Nations (ASEAN),
which have a combined GDP of $21.2
trillion.

More
importantly, these countries all also happen to be
part of the proposed Regional
Comprehensive Economic Partnership (RCEP), a "mega-regional"
trade agreement.

And that fits
into the larger trend in the global economy: regional trade
reform is "on the move,"
according to HSBC's Douglas Lippoldt.

Other
huge (and controversial) proposed trade agreements include
the Trans-Pacific
Partnership (TPP), which encompasses twelve
countries in the Asia Pacific (including the US), and
the Transatlantic Trade
and Investment Partnership (TTIP), a free-trade
agreement between the EU and the US that would be the largest
planned regional trade agreement in terms of GDP.

These agreements "promise to facilitate trade and reduce
protectionist measures" that still impede trade in many
economies, according to Lippoldt. However, the potential
adjustment costs have some analysts and politicians worried.

Still, overall, "their anticipated depth and breadth of coverage
could promote structural reform across much of the world
economy," according to Lippoldt.